Cambridge Trust Co. Sells 268 Shares of Wells Fargo & Company (NYSE:WFC)

Cambridge Trust Co. lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% in the fourth quarter, Holdings Channel reports. The fund owned 15,005 shares of the financial services provider’s stock after selling 268 shares during the quarter. Cambridge Trust Co.’s holdings in Wells Fargo & Company were worth $739,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Defender Capital LLC. bought a new position in shares of Wells Fargo & Company in the first quarter worth approximately $246,000. Fairfield Bush & CO. bought a new stake in Wells Fargo & Company during the first quarter valued at about $124,000. Dakota Wealth Management purchased a new stake in shares of Wells Fargo & Company during the first quarter worth about $222,000. Candriam Luxembourg S.C.A. boosted its stake in Wells Fargo & Company by 0.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock worth $13,274,000 after purchasing an additional 770 shares during the period. Finally, Zions Bancorporation N.A. raised its position in shares of Wells Fargo & Company by 24.5% during the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock valued at $467,000 after buying an additional 1,895 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $58.93 on Friday. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $59.13. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $208.64 billion, a PE ratio of 12.26, a P/E/G ratio of 1.11 and a beta of 1.19. The business has a 50-day simple moving average of $55.63 and a two-hundred day simple moving average of $48.68.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Analysts Set New Price Targets

A number of brokerages have issued reports on WFC. Citigroup reiterated a “neutral” rating and issued a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Argus lifted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Evercore ISI increased their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.